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HMRC internal manual

Double Taxation Relief Manual

Morocco: Underlying Tax

(1) Documents needed to support the underlying tax claim

The accounts showing the profits used to pay the dividend and evidence of the tax payable on these profits will be required by the Underlying Tax Group.

(2) Legal reserve

Relevant profits are reduced by transfers of 5% of annual profit until the reserve reaches 10% of share capital.

Spared tax

The calculation of the spared tax prepared by the Moroccan company’s accountants should be provided to the Underlying Tax Group together with the certificate granting tax sparing status.